Sunday, September 22, 2019



ollowing the implementation of the federal government new tax (cashless) policy that every withdrawal by individuals from individual accounts from the sum of N500,000 and above will be charged 3% processing fees for withdrawals. How much does it translate in cash?

In simple terms, what it means is, for withdrawing N500,000 from your individual accounts, the federal government takes N15,000 from your account instantly.

The question is, what has the the federal government provided for you to take such amount of money from you? Absolutely nothing.

For Corporate accounts, every withdrawal from the sum of N3,000,000 and above the federal government will charge you 5% as fees for processing withdrawals.

It means, for withdrawing N3,000,000 from your corporate accounts (Business accounts/company accounts) to pay workers salaries, the federal government will take N150,000 from your account immediately.

The same question is, what has the federal government provided for you to warrant them to take such amount of money from you? Absolutely nothing.

Wait oo standby because that is not the end of the joke.

When you deposit money (Pay money) into your individual accounts the sum of N500,000 and above, the government will still charge you processing fee of 2%. for lodgements.

It simply means, for depositing N500,000 into your account, the federal government will take N10,000 from your bank accounts instantly as processing fee for lodgement into your bank accounts. Evil.

For corporate accounts, from the sum of N3,000,000 and above will be charged 3% as processing fee for lodgement.

It means for depositing N3,000,000 Into your corporate accounts, (Business accounts/ Company accounts) federal government will take as much as N90,000 from your bank accounts immediately as processing fees for lodgements.

By simple interpretation, what this means is, as a hustling individual, a business man and woman working hard to earn a living, if you are a tenant living in a 3 bedroom apartment and your house rent is N600,000 per year, once you withdrew your money from your bank account to pay your landlord your house rent of N600,000, the government will charge you 3% of that money you withdrew to pay your landlord for your house rent. In this case 3% of N600,000 is N18,000 that the ... (clueless) government will take from your bank account instantly.

And the government will also charge your landlord 2% lodgement fee for lodging that money you paid him or her for the house rent into his account, which is N12,000 they will collect from your landlord for the same amount of N600,000, bringing it to total of N30,000 the federal government of the .... (good for nothing country) called Nigeria collected from the same amount from just two of you. For paying your house rent of N600,000 the federal government collected N30,000 from both you from the same money.

Ndi one-nigeria, what do you call this policy? Is this not fraud, evil and scamming of the citizens by her government who supposed to protect and provide for her citizens? But, Instead of protecting and providing for her citizens, the government is rather unduly, fraudulently and unjustifiably taking from them. Tufiakwa!

Oil money they have been looting is no longer enough for them, they have now extended it to looting citizens' different bank accounts, charging unnecessary taxes on the citizens' individual bank accounts, withdrawals, deposits, and corporate accounts - both deposits and withdrawals.

Mind you the commercial banks you deposited into and do your transactions with will also remove their own interest oo, because, they are not doing business in the evil forest for CBN and killers alone to profit

The corporate accounts here also include those states they listed, which no northern state was among the state they listed to begin the implementation. Injustice at the highest level.

Abia and Anambra states that have no federal government presence in their respective states are in the list and will be paying such huge taxes, both withdrawals and lodgements, to the federal government of Nigeria each time those transactions take place every month. This is the federal government that have contributed nothing and still contributing nothing meaningful to all the states in Igbo land.

This is also the federal government that rewarded Miyetti Allah with N100 billion for killing Nigerians and now, the same government have turn around to taxing the citizens for withdrawing money from their bank accounts and depositing money into their bank accounts.

What can the lazy Nigerians do? Can they protest in rejection of this pure injustice, pure scam called policy? I doubt.

Buhari was right when he called them, Nigerians, baboons and monkeys, because, only FEARFUL, STUPID AND INSANE baboons and monkeys can tolerate the level of injustices that are going on in Nigeria. Reasonable and sensible baboons and monkeys can't tolerate it.


Just In: CBN Are Armed Robbers For Introducing New Bank Charges - Hon. Kazaure